Equity Long-Short

Mo Aziz

Capital markets veteran with 25 years across sell-side and buy-side research, investor relations, and fund management. Currently publish independent equity research (Mofferies Investment Research, via Smartkarma) spanning semiconductor memory (DRAM/NAND/HBM), foundry, semiconductor equipment and advanced packaging, gold and cross-asset strategy, financials forensics, and APAC IPOs — with a standing watchlist of 190+ companies across 41 countries. Background includes deep aviation-sector expertise (airlines, airports, OEMs, lessors, air cargo, travel/OTAs). Approach centers on identifying cyclical inflection points and mispriced risk across sectors, translated into explicit, actionable calls.

Japan Capital Market Is Eating Itself: Buybacks Outrun IPOs 100 to 1, the Buyer Was Ordered to Buy

India IPO: The Great Handover -- India's Households Are Buying Out the Foreigners

Hong Kong's IPO Boom Is Becoming an Equity Absorption Problem

Cross Asset Strategy

Multiple Countries / Cross Asset Strategy

<ul>
<li>Foreigners sold a record ₩148trn of Korean equities in 1H26, with Samsung and SK hynix accounting for ~87% of the exit.</li>
<li>Retail absorbed the selling at the top, but September turnover has halved and leveraged demand is now fading as the buyback became an exit door.</li>
<li>Position for the structural bid: favour value-up banks and holdcos, be selective on Samsung/SK hynix, and avoid leveraged AI and IPO exposure.</li>
</ul>


Foreigners sold a record ₩148trn of Korean equities in 1H26, with Samsung and SK hynix accounting for ~87% of the exit.
Retail absorbed the selling at the top, but September turnover has halved and leveraged demand is now fading as the buyback became an exit door.
Position for the structural bid: favour value-up banks and holdcos, be selective on Samsung/SK hynix, and avoid leveraged AI and IPO exposure.


Korea’s ₩195tn Ownership Shift: Foreigners Exited, Retail Absorbed — Buybacks Are No Floor Yet